Limited room for further decreases in local Chinese CRC market

Wednesday, 08 June 2016 13:59:19 (GMT+3)   |   Shanghai
During the week ending June 8, in the Chinese domestic market average cold rolled coil (CRC) and cold rolled sheet (CRS) prices have edged down, while transaction activity in the overall market has shown some improvement though it remains at low levels. Average cold rolled product prices in the local Chinese market are presented in the following table.

During the given week, the average prices of CRC have softened, while some improvement in transaction activity has been seen in the latter part of the week. Downstream buyers have been more willing to buy at the lower prices. Currently, cold rolled materials are only RMB 200/mt ($30/mt) higher in price compared to hot rolled materials, and so room for further downward movement of CRC prices is limited. Meanwhile, Tangsteel is planning to carry out maintenance work on one of its cold rolling production lines at the end of June, which will likely reduce its CRC output and provide support for CRC market prices. It is thought that CRC prices in the Chinese domestic market will likely move sideways in the coming week due to the Dragon Boat Festival Holiday (June 9-12). 

Product name

Spec.

Category

City

Steel plant/origin

Price (RMB/mt)

Price ($/mt)

Weekly change (RMB/mt)

Thin CRC

1.0 mm x 1,250 mm x C

ST12

Shanghai

MaSteel

2,860

435

60

Tianjin

Tangshan Steel

2,650

403

130

Lecong

MaSteel

2,860

435

100

Average

 -

2,790

425

97

Thin CRS

1.0 mm x 1,250mm x 2,500 mm

ST12

Shanghai

Anshan Steel

2,910

443

20

Tianjin

Anshan Steel

3,450

525

100

Lecong

Anshan Steel

3,210

489

100

Average

 -

3,190

486

74


17 percent VAT is included in all prices and all prices are ex-warehouse.
 
$1 = 6.57 RMB


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